A Small Business Administration (SBA) Loan offers longer terms and fewer collateral restrictions than conventional bank loans because the SBA guarantees it to the bank. This type of loan is ideal if you plan to start or expand a small business, and First Tennessee can help you qualify quickly based on our experience with this government agency.

Product Features and Benefits

Government guarantees your loan to the bank

Longer terms than conventional loans

Fewer collateral requirements

Guidance from an SBA preferred lender

SBA loans available through First Tennessee

7A Loans

504 Loans

Description

Provides long-term financing via Term Loan for a variety of projects, including expansion/renovation, purchasing new equipment, starting a business, buying real estate, access to working capital, and refinancing.

Long-term, fixed-asset loans that are appropriate for needs like buying commercial real estate or constructing/renovating facilities.

Max Loan Amount

$5 million

$5 million

Max Term

Generally, working capital and machinery/equipment (not to exceed life of equipment) is 10 years; real estate is 25 years. We can use a blended term based on the different use of proceeds.

CDC Loan: 10- or 20-year term fixed interest rate.

Lender Loan: Unguaranteed financing may have a shorter term.

May be fixed or adjustable interest rate.

Owner Equity/Liquidity

Minimum of 10%

Minimum of 10%

Collateral

Generally speaking, borrowers can assume that all assets financed with borrowed funds will be used as collateral for the loan. Depending on how much equity was contributed by the borrower toward the acquisition of these assets, the lender may require other business or personal assets as collateral.

Business Loans & Lines of Credit

Build your business with the reliability of our loans and lines of credit.

Insurance products available through FTB Advisors Insurance Services, Inc. (”FTBIS”), a subsidiary of FTB. Arkansas Insurance License # 247414. In some states, insurance products and annuities are provided by First Horizon Insurance Services, Inc. (“FHIS”), a Tennessee corporation, and a subsidiary of FTB. The principal place of business of FHIS is 165 Madison Ave., Memphis, TN 38103. California Insurance License # OD12174.

FTBIS, FTB Advisors, Inc., FHIS, and their agents may transact insurance business or offer annuities only in states where they are licensed or where they are exempted or excluded from state insurance licensing requirements.

The contents of this website are for informational purposes only. Nothing on this website should be considered investment advice; or, a recommendation or offer to buy or sell a security or other financial product or to adopt any investment strategy.